S&P 500 Snapshot: Second Correction In 2 Months
- Author: Eleanor Harrison Apr 10, 2018,
Apr 10, 2018, 19:15
The return of market volatility, fears of a trade war and the recent underperformance of some of the major indices' largest components have been a drag on stocks overall.
USA stocks traded lower on Thursday as news that President Donald Trump would propose trade duties on China imports stoked fresh fears about a potential trade war between two of the world's largest economies that could impede domestic economic expansion in roughly its ninth year.
"The market does not like uncertainty and right now we have a lot of it".
The Chinese government responded by reiterating that it doesn't want "to fight a trade war, but we are not afraid of fighting it".
Facebook share were down 1.3 percent.
The Dow Jones Industrial Average advanced 239.33 points, or 1.0% to 24,503.77 after swinging 741 points in Wednesday's highly volatile session.
Technology stocks were also hit on the NY exchanges, with Apple and Amazon declining more than 2%.
The S&P 500 lost 22.96 points, or 0.862237 per cent, to 2,639.88.
The S&P 500 added 0.7% and the Nasdaq gained 0.5%.
The data scandal has raised questions about the social media company's business model, and the leadership of CEO Mark Zuckerberg. The S&P fell as low as 2,603.71, which is about 10 points, or 0.4%, from the moving average's level of 2,593.7.
As worries about the tension between the US and China intensify, The Dow plunged once again on Friday, with sharp losses that went as high as 710 points. That came with the USA considering duties on an additional $100 billion in goods imported from China. Technology companies and banks are taking some of the worst losses.
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